We believe that internal audit is an integral part of corporate governance as it provides an independent and objective appraisal mechanism for the Board, Audit Committee, and management.

We have focused on internal audits and operations audits since the inception of the firm. Our integrated internal audits address all aspects of a corporation’s operations to enhance governance processes and meet assurance requirements by encompassing a risk assessment, financial audit, operations audit, I.T. audit, and compliance evaluation. For each identified area/function, the integrated internal audit will:

• Evaluate risk assessment and management processes
• Evaluate corporate governance, e.g. policies, guidelines and their implementation
• Review adequacy of systems, controls and procedures
• Assess regulatory compliance
• Optimize cost/benefit to the Company for expenditures incurred.

We conduct integrated internal audits using our proprietary methodology, the Controls Effectiveness Index (CEI)© . The CEI© has been implemented in over 200 companies in the past fifteen years. We work collaboratively with our clients to achieve over 90% effectiveness in the CEI implementing controls over a period of 3 – 4 years.

Our audits are analytics-driven, and we have an extensive database of strategic and operational risks, effective internal control systems, and best practices across over 50 sectors that has been fine-tuned over 41 years of experience, to provide the highest level of operational assurance.

We offer two models of internal audit: fully outsourced as well as co-sourced.

All our audits are conducted in consonance with IIA Standards.

We have conducted concurrent audits for a number of prominent international and national banking and financial services providers. Our concurrent audits ensure that:

• All transactions are within the framework of policies and regulations framed by the organization/ regulatory agencies
• All transactions are contracted and executed as per procedures and controls specified by the organization
• All amounts due to the organization are collected in a timely manner
• All statutory requirements and guidelines specified by regulatory agencies are followed.

In addition, our reviews highlight additional controls and procedures which may need to be incorporated to ensure that designed systems and controls are effective and efficient.

Well-defined and documented policies are key to successful execution of business plans.

We can help businesses develop and document company-wide corporate policies that are based on your management philosophy and by benchmarking best practices. We ensure that adequate internal control mechanisms are built into policies/ SOPs, and that they are drafted with a clear implementation focus. After the development of these policies, we also conduct training workshops to facilitate implementation of the policies.

The role of Internal Audit in today’s environment is to be a partner in the business, to provide not only hindsight but also insight and foresight. The realignment of the department should enable it to plan and execute a programmed evaluation of how the organization uses its resources and assess efficiency, effectiveness, and economy in all key areas.

We help establish, restructure or redesign Internal Audit (IA) functions – to upgrade the quality of the internal audit processes and enhance rendering of value-add services by the IA department. We provide recommendations on the audit charter, the internal audit function – ideal model, size, composition, budget and resources, the contents of a risk-based Internal Audit Plan, appropriate audit tools, and appropriate reporting mechanisms to the Audit Committee. We also provide training on internal audit methodologies, written/ oral communication, Audit Committee presentations, etc.

We help companies prepare for external quality assessments of Internal Audit (IA) functions based on the IIA Quality Standards and the best internal auditing practices.  Our reviews not only provide the Audit Committee, executive management, and the Chief Audit Executive an opinion on the extent to which the IA activity conforms to the IIA Standards and guidelines, etc. but will also provide recommendations on improvement.

We follow the procedures as laid down in the Quality Assessment Manual for the Internal Audit Activity issued by The Institute of Internal Auditor’s Research Foundation.

Our reviews are conducted as per IIA Standard 1312 for conduct of the External Assessment, which can be in the form of a full external assessment, or a self-assessment with independent external validation.